Intel and the German government have struck a deal on how to split the bill for a massive chip factory in Magdeburg, marking the end of a months-long funding dispute. The US chip giant agreed yesterday to fork out more than 30bn to develop the plant, a deal Chancellor Olaf Scholz hailed as the single biggest foreign direct investment in German history. The government has also agreed to up its subsidies for the megaproject from 6.8bn to 10bn. Todays agreement is an important step for Germany as a high-tech production location and for our resilience, Scholz said. With this…
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